4 Hidden Ways Financial Doomscrolling Is Costing You Money

Stephanie MickelsonSat, March 21, 2026 at 6:55 AM UTC

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Drazen Zigic / Getty Images/iStockphoto

Doomscrolling, according to Zishan Khan, M.D., board-certified psychiatrist with Mindpath Health, involves “compulsively consuming negative news online.” This practice, he said, heightens anxiety and impairs mental wellbeing.

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Financial doomscrolling can include consuming negative news, but it also includes compulsively checking banking apps, watching stock market performance, and comparing your lifestyle to those you see online, and it negatively impacts your money in hidden ways.

Doom Spending and Emotional Splurges

CreditKarma found that 27% of Americans report “doom spending” to cope with their stress over the economy. Melissa Cox, a certified financial planner and owner of Future-Focused Wealth, said this happens because, “It creates a short-term dopamine boost.”

This spending, said Khan, may provide short term relief, but ultimately leads to “debt and guilt.” He recommends pausing for 48 hours before making a purchase. That gives you time to explore spending triggers. You can even redirect the urges and take advantage of free activities like walking or calling a friend.

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Obsessive Financial App Scrolling

Cox shares a story of a client who would call her multiple times a day to check his investment balances. Now, she points out, “We don’t even have to call our advisor anymore. We can refresh our bank apps, scroll headlines, watch market updates, and compare lifestyle all before we finish breakfast.” This habit, according to Khan, “fuels panic without action and amplifies anxiety.”

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Cox and Khan both say to schedule one time each week to review accounts and financial updates.

“It takes practice,” Cox said, “but you’ll build a new, healthier routine.” Khan said that the goal in sticking to scheduled reviews is to build tolerance for uncertainty while maintaining oversight.

Heightened Anxiety and Worse Money Judgement

Financial doomscrolling leads to what Cox describes as “a bizarre cycle of stress plus dopamine and anxiety plus anticipation.” While this feels stimulating and productive, “It’s actually dysregulating your nervous system.” When this happens, you may experience more anxiety and worse money judgement.

When you feel this anxiety, you can delete the apps for a few days. When you return, the goal is to “consume financial content wisely, filter it through your own plan and remember that your race is your pace,” Cox advised.

Khan recommends using online info selectively and setting time limits on news to avoid overload. Start small with free tools and apply insights constructively, like choosing one habit weekly and tracking it via a journal. Professional therapy or financial coaching can also help because they “integrate emotional awareness with planning for lasting change,” he added.

Skewed Perception of Risk and the Future

Scary economic news can make people feel like they might as well spend their money now. This prevents some from making plans for the future, saving for a down payment or investing for retirement. In fact, nearly half of those surveyed by Amerisleep said that they lose sleep because of financial stress.

Cox recommends writing down your top three financial priorities and then filtering economic news through that lens, emphasizing news that doesn’t impact your goals doesn’t get to control your behavior. If you’re still having trouble sleeping, Cox said to know that “there is rarely a single headline that will cause a change to your financial plan.”

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This article originally appeared on GOBankingRates.com: 4 Hidden Ways Financial Doomscrolling Is Costing You Money

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Source: “AOL Money”